Northam sales up by 48.5% in H1
Northam Platinum Profits R1.0 billion in H1! Northam Platinum has posted results for the first half-year of the 2019 financial year. The strategy which was launched in 2015 with the Zambezi Platinum (RF) Limited Black Economic Empowerment transaction, has for the first time unfolded in the numbers. Normalised headline earnings, the primary measure of performance, amounted to R553 million, or 108.5 cents per share, up by 192.6%. Sales revenues increased by 48.5% to R5.0 billion, mainly on the back of higher volumes and operating profit of R1.0 billion, an all-time record for an interim period. R1.5 billion spent on capital expenditure, mainly in the execution of the group growth strategy. At a presentation to the investment community in Johannesburg, Northam chief executive Paul Dunne commented. He said: “Our growth strategy remains on track, and projects are generally ahead of schedule, 1: good progress is being made at Booysendal South with the successful commissio